PE-VC Fund Investments
Customer engagement platform MoEngage raises $180-M more; early investors exit
Bengaluru-based customer engagement platform MoEngage has raised an additional USD 180 million as part of its Series F funding round led by new investors ChrysCapital and Dragon Funds. The round also saw participation from Schroders Capital and existing backers TR Capital and B Capital. MoEngage had earlier (in November) raised USD 100 million in the first close of the Series F round from Goldman Sachs and A91 Partners. Avendus Capital acted as the exclusive financial advisor to the company and its shareholders.The deal saw select secondary exits by early investors including Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast. The deal also facilitated liquidity to 259 current and former employees worth about USD 15 million.Founded in 2014, MoEngage provides customer engagement software across web, mobile, e-mail, and messaging channels. The company plans to use the new funds for its Merlin AI suite, to expand go-to-market teams in North America and EMEA (Europe, the Middle East and Africa), and to pursue acquisitions to support product capabilities and global expansion.
Between Sep 2015 and Nov 2025, MoEngage had attracted about USD 295 M from Exfinity Fund, Helion Ventures, Ventureast, Z47, Eight Roads Ventures, Multiples, Steadview Capital, B Capital Group, Goldman Sachs, TR Capital, A91 Partners and others.For FY24, MoEngage had reported about INR 311 Cr in Operating Income and about INR 15 Cr in Net Loss.
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